City Lakes Real Estate Blog

Out Of Bounds2

In-bounds or Out? The Standard for Buyers’ Walk-Through Inspection

“Substantially the Condition,” Defined (Sort of) [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] “Buyer has the right to a walk-through review of the property prior to closing...
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Nyt

“What You Get For $200,000” Feature in The New York Times: A Minneapolis Condo Near Bde Maka Ska

Minneapolis condos for $200k normally don’t get national exposure — in this case, in The New York Times’ Real Estate section. So, kudos to Edina Realty’s Stephanie Chandler, for scoring the publicity for her listing at 3150 Excelsior Boulevard in Minneapolis, just west of Bde Maka Ska (formerly “Lake Calhoun”). The two-bedroom, two-bathroom condo is actually listed...
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Paying Attention to What the Listing DOESN’T Say

MLS: “3rd Bedroom on Upper Level is Large & Has Lots of Storage” There’s certainly nothing wrong with an Upper Level Bedroom (pictured above) that’s large and has lots of storage. But, what’s notable — at least to me — is what’s omitted. Errors of (C)omission Namely, any mention of a Bathroom, or whether the...
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Best

Who Are Minneapolis’ Best Real Estate Agents?

What, (Almost) No Female Realtors?? [Note to readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] Can an NFL franchise be a perennial Super Bowl winner, and yet not have any superstars?...
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Mirror

Taking Would-Be Sellers on a Tour of Competing Homes? Bad Idea

When Subjectivity Isn’t Just Superficial If the Comp’s aren’t convincing enough, Realtor “Jane Doe” will take Sellers on tours of comparable properties. “They can see this other house is in much better condition, and it’s priced $20,000 less than theirs. It’s eye-opening.” –Spokane agent, sharing her strategy for working with unrealistic Sellers in “Setting Them Straight”; Realtor Magazine. ...
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Cabin

Cabin Conspiracy: “Getting Away to the Lake for the Weekend”

Stretch of +90º Temps in the Twin Cities? Time to Head (Even Further) North This will no doubt come as sacrilege to many Minnesotans — and isn’t going to endear me to my colleagues who specialize in selling 2nd homes up north — but here goes: my theory about why so many of my fellow...
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Google Flights

Never Mind “Google Flights” — Where’s “Google Rental Car??”

Post-Pandemic Travel Planning: Tracking Rental Car Prices In response to seemingly real-time (“dynamic”) pricing by the airlines the last few years, I now routinely shop for flights using tracking software. I’m sure there are others, but Google Flights lets you set up multiple searches for upcoming travel destinations and dates, then notifies you when there...
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Heat

June 5, 2021: Minneapolis Forecast to Reach 102º 

  Hotter Than Hades Phoenix This Weekend in the Twin Cities OK, so the mercury in Minneapolis later today is forecast to “only” reach 102º, vs. 104° in Phoenix. However, once you factor in the relative humidity — 50% locally vs. around 10% in Phoenix — the Twin Cities will actually feel several degrees warmer. Giving...
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Dictionary 150x150 1

“Dig . . . Dug . . . Dog”

(Un)Grammatically Speaking One of the less-heralded parental duties is (gently) correcting your kid’s bad grammar — or trying to. Witness this exchange between me and my (then) 8 year-old daughter: She: “Did you know that Raffy (family dog) digged a big hole in the garden?” Me: “It’s “dug,” not “dig.” She (with emphasis): “Did you know...
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Why the Neighbor’s House Usually Isn’t a Comp (“Comparable Sold Property”)

Comparing Honey Crisps to Braeburns One of the more quizzical looks Realtors get is when they (try to) explain to a prospective home Seller that their neighbor’s house isn’t a “Comp” (Comparable Sold Property). In plain English: it isn’t relevant — at least directly — for pricing their home. For the uninitiated, a Comp is...
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